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wants to spend additional money on roads and bridges and end a number of corporate tax breaks. we will have live coverage at 11:30 a.m. eastern on c-span. >> c-span 2 provided key coverage and booktv. the only television network devoted to non-fiction books and authors. >> sweeds have been accused of trying to hide the accounts of 22 united states citizens. carl levin is calling on the justice department to hand over the names of those who used the bank at a -- to alem ledgedly avoid paying taxes. >> good morning. the meeting will come to order. the american public is angry about offshore tax abuse and efforts by americans to evade their tax obligations by hiding money offshore. today's hearing follows up on a meeting this subcommittee held in 2008 when we presented evidence that well-known banks were deliberately helping united states clients cheat on their taxes by opening offshore counts never reported to the irs despite united states law requiring their disclosure. the hearing focused in part on ubs, the largest bank in switzerland that had 52, 000 customers and $18 million in
said today he regrets the financial institutio institutioe u.s. clients avoid paying taxes. that was part of a hearing today on offshore banking. it's next on c-span2. >>> ahead of the federal reserve will testify on capitol hill tomorrow morning the senate subcommittee investigation accused the swiss bank of trying to hide the accounts of 22,000 u.s. citizens so they could avoid paying taxes. the panel headed by carl levin is called from the justice department to force the bank to hand over the names of u.s. citizen good morning everybody. the permanent subcommittee on investigations will come to order. the american public is angry about offshore tax abuse, efforts by well-off americans to ebay to their u.s. tax obligations by hiding money offshore. at today's hearing follows up on a hearing that the subcommittee held five years ago in 2008 when we presented evidence that well-known international banks located in secrecy jurisdictions were deliberately hoping u.s. clients cheat on their taxes by opening offshore accounts never reported to the irs despite a u.s. law requiri
, and filing next year, a lot of inquiries as well as taxpayers in the area of eligible for premium tax credit and even if they aren't making sure they are comfortable when we started that public information campaign, and to get taxpayers comfortable 70% or 80% don't have anything to do with it at all, i have insurance and will move on the way, a chunk of people will be affected. and how much we spend for i to your personnel on affordable care, what we spending this year and would we expect requirements will be in the next year or two? >> when you next appear before us, there will be a lot of discussion about the dollars that are necessary. >> i wanted to ask about bonuses. in making sure bonuses are given to employees, improved performance or goals they have met, i don't know if you have seen, we put some report language together. have you taken guidance in the language for bonuses to be awarded? to those who actually show improved employee performance and productivity? >> the pool is 1% of compensation on performance judgments made by managers not by employees, obviously comment and history
class as well. it would probably work. but it is a huge controversy from the taxes. ... thank you for taking my call. independent because most of us americans have caught onto the big blame game. , andeach blame each other basically they are on the same team. they have different ways to go about it. my main problem is the epa. we are giving him close to $8 million, and it'll do nothing for us. they let the fracking industry go unregulated, they let solar management go unregulated. they are spraying our skies, trying to dim the sun to fight global warming. nobody knows about it. 02 global sky watch and you can find out all aut i i o knowre i i want to know where is the epa protecting us from this, his name is david frum nasa and he wants to spray and he has been spraying our sunlight dependent. >> host: zachary goldfarb, i know you don't cover epa specifically but the president, climate change is part of the agenda this year. >> guest: that's right and the president is putting money into funding and he proposes billions of dollars for climate research and for related endeavors. epa
an expansion in the earned income tax credit. the proposal that you heard discussed that was -- we put out some details yesterday on would be the first major expansion of the earned income tax credit for people without dependent children since 1993. it would address so many policy issues that people have raised from house to encourage younger people to encourage work, help people with disabilities get back into the work force, and ensure that more people with the combination of the earned income tax credit, minimum wage don't work full-time and live in poverty or raise any family members in poverty. the president -- this is an important progression. 20 years ago there were 1.4 million americans being pulled out of poverty because of the earned income tax credit or similar refundable tax credits. today it is 10 million. that is one of the major progressive agreements in which the president has furthered both in his 2009 budget and then extending those refundable tax credits in both 2010 and 2012 up for the next five years, and he calls for them to be permanent in his budget. what this would do i
everyone. thank you all for coming marx coming up, remarks by governor jan brewer. a tax reform proposal. -- the president is in minneapolis to discuss transportation and infrastructure funding. >> on the next washington journal, congressman phil roe on the gop alternative to the alternative -- obamacare. and later, nbc news correspondent harry smith talks about his documentary looking at marijuana in colorado. washington journal is live every morning at 7:00 eastern. you can share your thoughts on facebook and twitter. >> federal reserve chairman janet yellen testifies before the senate taking committee thursday. the first time since being confirmed to lead the central bank. you can watch it live at 10:00 a.m. eastern on c-span three. you can also join the conversation on facebook and twitter. >> blown out and broke. year in, year out. they fought the worst drought in history. they stopped, choked to death on arrenaron lined. -- b land. many were ahead of them, but then he stayed. hopes, andinery, credit were gone. resettlement.s. administration documentary "the ins."that the plao sunda
-- it would allow americans to remain uninsured through tax season. without a fine. the fine skill up in subsequent years in order to encourage people to join the health insurance pool. republicans are arguing that the obama administration has given breaks to businesses that would have been required to provide health insurance to their employees. republican said that is unfair that individuals will be fined when employers will not be fined. >> the white house plans to announce further delayed some other parts of the wall. what are you hearing? >> what we expect this week is for the white house to actually allow insured companies to continue to offer plans that do not meet obamacare's minimum coverage requirements for the next couple of years. it will be a major delay for the white house, when they announced this. what it will do is allow insurance companies to continue selling policies that otherwise would have been disqualified under obama's rules for minimum health-care coverage. a policy that does not have maternity care or pediatric care or mental health services included could co
for over 50 years. last may we learned that the i.r.s. targeted conservative groups seeking tax exempt status. for over ninth months committee investigators have reviewed hundreds of thousands of internal i.r.s. documents and interviewed i.r.s. officials regarding the targeting. our investigation is not yet over and the ways and means committee continues to wait for the i.r.s. to turn over lowest learners emails. despite the ongoing investigations both in congress and by the inspector general, last november treasury rushed forward with proposed new regulations to stifle 501-c-4 groups upending rules that have been in place for over half a century. the speaker pro tempore: the gentleman have is recognized. -- the gentleman is correct. the house will come to order. please take all conversations off the floor, please clear the . sles the gentleman from michigan is recognized. mr. camp: under the proposed rule social welfare organizations will face additional unprecedented scrutiny for engaging in the bows basic unpartisan political activity. such as organizing nonpartisan get out the vote
with our u.s. tax laws and when we talk about u.s. customers, 18,900 of those accounts that closed in today there are about 3500 that have been determined are in compliance. are those numbers correct? >> those numbers are correct as of today but i would like to add that in total we have reviewed tax compliance some 6678 of which about half, 3000 have been closed and 3000 the number you have just mentioned are still with us. >> so what is the total number of accounts that we no longer have of the 22,000? >> the 18,000 number you mentioned. and if i may add mr. chairman, we had a large population of u.s. resident clients. i would say 11,000 i believe that had account balances below 1 million dollars under asset management and they were not even given the option to stay because to move to one of our fully u.s. license broker dealers you needed $1 million is the minimum balance. 18,000 of these did not have the opportunity to prove tax compliance. >> mr. cerutti your u.s. policy required that swiss accounts open for u.s. residents be concentrated in a single swiss office we talked about the sla
for 501(c) four nonprofit groups applying for tax exempt status and testimony before a house subcommittee on wednesday. this is two hours. >> the hearing will come to order. hearing of thest year for our subcommittee. welcome to all the subcommittee members. glad to have you back. a warm welcome to our subcommittee's newest member. he is not here yet. he will be down at the end. we look forward to having him work with us. today the subcommittee will hear from two panels. we will hear about the activities and operations of the internal revenue service. commissioner. irs welcome to you, sir. we appreciate your return to the service and thank for taking -- thank you for taking on this task. george have russell and nina olsen. we appreciate the careful and constant oversight of the irs. we have not heard in some time from ms. olsen, so we are especially eager to hear from her. as a matter of house keeping, i will be following the five minute rules for that members. i do not plan on cutting anyone off in the middle of their sentence, but if everyone could keep their questions and comments for
at the president's budget, you see an earned income tax credit. that is being offered by the president as something that should be expanded. if you look at the poverty report monday, he praises the earned income tax credit. republicans have different views. use all marco rubio in the senate talk about killing the program. marco rubio in the senate talking about killing the program. the earned income tax credit, which the president wants to expand, was really a republican proposal a few decades ago. republicans like having people work and having people reported for work. this could be an area where there are twin carried -- tinkering. expand the like to tax reduction for families who have children. republicans have been focusing on this for the past year. mike lee, one of the most conservative members has been talking about using the tax credit as the core of what republicans have. see at least two areas there could be talks. credits, we are seeing political messaging more than anything else. host: what are the expectations for how the budget process is going to work on capitol hill? will the senate
-murray, it is paid for with spending cut and tax reforms. it is deficit neutral. supporting what the president said in the state of the union, there is a series of programs to create jobs. it lays out $302 billion infrastructure proposal that is paid for with pro-growth tax. it strengthens the manufacture base and supports groundbreaking research to fight disease, protect the environment and develop new technology. it enhances the administration's management efforts to deliver a government that is more efficient and supportive of economic growth. and it will expand opportunity for all-americans. it doubles the maximum value of the earned income tax credit to encourage people to enter the workforce. and makes high quality preschool available to every four year old. and drive workforce training. it will focus on the primary drivers of long term debt and deficits. it builds on the forms of the affordable care act and continues to slow health care cost growth while improving the quality. it will curb tax breaks that benefit the wealthiest. it calls for pro-growth immigration reform. the deficit has bee
a compromise that included spending cuts in exchange for tax revenue. unfortunately, his compromise and the other compromise discussed did not make it through. the committee, in a sense, failed to come to conclusion to propose to the senate and the house a compromise that could be lived. .. >> i want to welcome the senator from pennsylvania senator to me. >> toomey. >> excuse my voice it sounds worse than it is. think you for having me today and for his kind introduction and from universal health services it was allen's idea that i'd be invited to speak with you this morning and i appreciate that but i was a little surprised to be honest because allen knows about my notorious weaknesses with the public speaker and invited me any way. i say notorious for meet -- for be the department of public speaking made clear by only a smile -- of small child. i have three little kids into are not so little but my eldest is a little girl when she was in the second to parade the school had a program where you are invited to come into the class to explain what you do for a living. i stood up in fro
tax revenues from aliens hidden overseas. i don't buy their narrative. the american people shouldn't darsha the department of justice mr. cole. i ask you to keep in mind in use already available legal tools at your disposal rather than relying upon the treaty process. so i guess my first question mr. cole is niche or even if the senate ratifies the 2009 protocol to amend the convention between our two countries for the avoidance of double taxation the justice department will be no closer to obtaining information from noncompliant bank accounts close prior to 2009? >> senator that's true. the 2009 treaty only applies to matters and situations after the september 2009 time that it was put into place. >> so basically never certainly in the way we are urging information about noncompliant tank accounts that were close prior to 2009. >> i don't think that's necessarily the case. >> how do you do that then? >> the program we have is going to require that hanks even prior to 2009 go back into 2008 and provide us with the information about accounts that will enable us to make much more eff
spent over $1.5 trillion which averages out to about $11.2 million tax dollars paid every hour by the american people. in today's national paper, the "usa today," and other headlines, the headline is this, "obama to karzai: time running out for security deal." madam speaker, based on recent polls this would be good news to the american people if we would not continue this relationship with afghanistan. it is nothing but an absolute waste of the taxpayers' money and the american people are sick and tired of it. a recent poll last week by gallup showed that almost 50% of the american people believe that the war in afghanistan was a mistake to start with. i can honestly say this. if it was not a mistake to start with, it's a mistake now that we continue to support and spend money on a corrupt leader named karzai. mr. speaker -- madam speaker, as i listen to the secretary of defense, chuck hagel, yesterday talk about the financial pressure on our military and the budget that he will be supporting that mr. obama has proposed, i wonder why we in congress are not allowed to debate on
is not olitical activity. here is no doubt a number of roups have abused their claims to the 501 tax-exempt status by engaging in political activity. this is not a right, but rather a responsibility. too many organizations have been claiming it as a way to avoid transparency and taxes. laster, i suggested the irs need to revisit these rules to provide greater clarity. as to what is considered a political activity for purposes of making a 501 designation, the rules proposed by the irs have attested to do just that in my opinion. i cannot say whether the irs struck the right balance, but i o know that they will take any and all concerns seriously though for finalizing them. however, this committee cannot help the irs and these reforms did we do not adequately fund gency. fiscal year 2014 appropriations gave the irs more than the sequester level, but the irs is still being funded at its lowest level since fiscal year 2008. if we care about the fair implementation of our tax laws, this is simply unacceptable. y'all know at this level of funding, every additional dollar even to the irs allows them to b
tax evasion which has gone up. we have to go after the tax debaters. we should have swiss cooperation to do that. will link to turn over the names except its government won't. shame on the government that won't let the banks turnover. >> you are going to retire soon. is this your legacy? >> no. we are going to hold another one on the other side. there will be more periods. not necessary in this subject. there will be other hearings, tax avoidance. >> you think u.s. bank regulators should revoke the charter of these banks? >> independently what it would be a question for the department of justice. not independent connection or cooperation with the department of justice. the law is pretty clear. you want to operate in the united states you have to abide by our rules. operating in switzerland we should abide by swiss rules. >> what about the ubs? >> we got some results. ubs model that we want the justice department to follow here, it is all models that involves using our tools, tools of grand juries, using salmons and subpoenas and indictments that then produces the results. otherwise it
of witnesses, treasury inspector general for tax appropriation. mr. george is a right of a witness was subcommittee, and we appreciate his careful and costs of oversight. we have not heard in some time for ms. olson, so we are especially eager to your former. as a matter of housekeeping and going to be following a five minute rule for the members. i don't plan on cutting in the woody off in the middle of their sentence, but if everybody can keep their questions and comments and get to that part of the program to five minutes that will give us a chance to hear from anybody and have maybe more than one round of questions. and going to recognize the members in order of seniority, those that were here when the gavel went down. for the latecomers we will recognize them based upon their arrival and will go back and forth between the parties. i think most of you know the 2014 appropriations cycle tested higher endurance. it was only asked to go after the fiscal year started and we and the government shut down of the budget committee came to an agreement on the discretionary spending. once
argued that the task code -- tax code is riddled with complicate loopholes that make it harder to invest here and encourage companies to keep profits abroad. last summer i offered a proposed -- proposal to couple business tax reform with critical investments in infrastructure. this budget includes that proposal using the transition revenue that will result from a shift to a simpler, more efficient tax code to create rebounding -- jobs rebounding, our roads and bridges and unclogging our communities. because in today's global conomy, first class jobs dwravetate to first class infrastructure -- gravitate to first class infrastructure and at times this budget lays out how mied a strailings will continue to act it cut red tape and stream line the permitting process for key projects so we can get more construction workers on the jobs as fast as possible. also have the chance right now to beat other countries in the race for the next wave of high-tech manufacturing jobs. my administration has already launched four hubs of high-tech manufacturing where we connect to businesses to research unive
negatively impacted taxes imposed upon one of its most dynamic job creators, the medical device industry. how ironic that you go to talk about creating jobs and economic growth, at the same time a proposal, a provision that was incorporated in the so-called affordable care act imposed a -- an egregious excise tax on not the profits but on the sales receipts of medical device companies simply as a pay-for for the obamacare act. as i said, indiana and minnesota, are home to many of the country's largest medical device manufacturers. in fact, my state of indiana exported more than $9.7 billion in life science products, including medical devices, and is second in the country, only to california, in terms of exports of life science products. so it's very important to our state and we have over 300 f.d.a. registered medical device manufacturers. some of them large, some of them small. they employ 20,000 hoosiers directly with an indirect support by nearly 30,000 more. so it's not a small thing for our state. it's one of the, pardon the pun, cutting-edge industries producing devices that improve the
to power through the spending caps of 2011 of the payroll tax holiday is indicative of the economy. of those such help to bring about the deficit reduction as a balanced approach to making progress to sustainability there were necessarily compounded by the sequestration in march and with the shutdown in october it took a large bite out of fourth quarter gdp growth as well. i will say more about fiscal policy and a moment but that it would be considerably less of a head wind in the years to come. before i move on to the more forward part of my talk i want to make one last point about the economy's progress to put it in a context of what we have seen at around the world with recovery from financial crisis. we know it is longer, harder, the more difficult and with that regard to prepare the united states to compare to the 11 other countries that winters systemic financial crisis as identified and what you see with the working age population and.it within four years which is considerably faster than the normal ted years verses' historic data. is a major -- the measure of the important
and recidivism, and enhance justice and fairness, and save tax taxpayer dollars which is a win, win, win. states that have been successful in working in this area have looked at changes to their sentencing policies and the same way that legislation that i know you and mr. scott have cosponsored. and with regard to re-entry of ex-offenders. michigan, for example, through their prisoner re-entry initiative, has slashed their budget for corrections and has reduced the overall number of beds that are available. so there are lots of great ideas in the states and i'm starting to see them at the federal level. >> several mentions of mandatory minimums. how do this coincide with the smart on crimes approach. >> the legislative trends we're seeing in congress, with the smart sentencing act, starting to take that question head on. i was actually very positive -- a couple weeks ago i now you, mr. scott, were present at roundtable in which attorney general eric holder, senator mike lee, senator rand paul, participated in a discussion about these very issues, mandatory minimum sentences and all of the aforem
: this rallies the base and expands college access and education for young, poor kids and expanding tax cuts for those in poverty and similar measures the democrats ran on and appreciate. it is a policy document used as a tool for 2015-2016 the final years of the obama presidency. we wants to get something done before leaving. he is figure out a policy plan for the final two years. >> host: is it realistic this plan can get through congress? >> guest: no, i don't think anyone expects the entire budget will pass. i don't think that is that has ever happened. but some things might have opportunity for bipartisan compromise. the business tax code reform would generate revenue to build bridges and roads and generate jobs and that is similar to a proposal that dave camp, the chairman of the house released last week. so ideas in the budget could be ground for compromise. >> host: does he indicate where he is going to act alone? >> guest: there is not so much of that. the president has a robust executive action plan he is implementing and he is taking action and has many more this year. the whiteho
-class including expansion of the air and income tax credit for workers without children and in addition to the immediate steps the president has set out of range of ideas to invest in education and quick workers for the skills they will need for years to come, measures that help us grow and help ensure that that growth is widely shared. so in conclusion, i would say that the challenges we face are substantial. we continue to have some of the short run challenges, but the bigger ones are the ones that have been building up over the last decade, the slower productivity growth in the postwar years and the increase in inequality. a lot is in place to have more stability and certainty. i think that by itself will be a major help to the economy, but they're is a lot more the weekend should do. i would describe some of that ambitious agenda in my remarks here today and would be happy to discuss more of it in answer to any questions you may have. [applause] >> ken simonson. one of the most unborn things that its share of economic advisers can do is educate an advocate for good, federal statisti
the clinton administration and congress last raised the gas tax. that was 21 years ago when gasoline was $1.08 and i wonder if barack had even met michelle and there it remained for 21 years. due to inflation and fuel economy increases, the average cost per mile that the american motorist pays to the federal government for transportation has been cut in half. i went on the budget and the ways and means committee the last eight years in order to deal with this issue, but frankly i'm tired of waiting. i introduced a gas tax increase phased in over three years to fully fund a six-year re-authorization. was pleased to be joined by friends during my bill introduction by the u.s. chamber, the afl-cio, truckers and a.a.a., transit, local government, environmentalists, road builders. i find it hard to say people will say this will be a heavy lift because there's little support for it. when chairman camp offered $150 billion last week in his tax reform bill, what president obama suggested $300 billion, where was their broad base of support? maybe that's why both proposals were called dead on arrival
with a disability, that they can do that in a tax-free -- i should say a tax-advantaged environment and so they can save over time and do it in a manner that doesn't put them at a disadvantage from a tax standpoint down the road. so sara is a great example of why the able act should pass, and she is doing more than her share to make sure that it does pass, so i'm grateful to sara wolfe for doing that. especially grateful to people like sara who like a lot of us at some point in our lives have to overcome the tragedy. sara lost her mother connie not too long ago to a sudden and rapid illness, but she has been able to -- to deal with that tragedy and still help us day in and day out to get the able act passed. i will highlight one more story and then i will conclude. angie king is a 28-year-old who lives in indianapolis, indiana, and like sara wolfe, she lives with downs syndrome. she has had -- angie has had five different jobs and works five days a week. she works paid positions at kohl's on mondays and at the ymca on fridays. on tuesdays, wednesdays and thursdays, she volunteers for several organi
into the marketplace to shop for coverage are often surprised by. financial assistance is available in two forms. tax credits which reduce the cost of premiums and are available to anyone with incomes between 100% and 400% of the federal poverty level. cost sharing reductions are additional assistance available to a subset of those folks, between 100 and 250% of the federal poverty level and those cost sharing reductions fill in the gaps and deductibles and co-pays in health insurance product that people buy. so together tax credits and cautionary reductions provide the core of what the marketplace adds to the health insurance market that financial assistance making coverage affordable for lower and middle income families. to date 82% of the people who have enrolled in a plan through the health insurance marketplace are receiving financial assistance, tax credits orcusion nary re -- or cautionary reductions or both. that number started out low and we've seen tremendous exc acceleration and now the vast majority of people signing up are receiving financial assistance to make that coverage more afforda
. tonko, will pick up the energy piece. but in the president's budget there are these key sectors, tax policy, education, research, infrastructure. let's start at the bottom and work to the top. the president's proposed a $305 billion, four-year transportation program for the united states. anybody that's driven today or east e west coast coast knows we have gridlock, we have transportation problems of all kinds. so the president comes forward with this major initiative, really a significant increase in what we have done in the past. he wants to focus it first on repairing what we already have. the pot holes, the bridges that have fallen down, and others that might. saying, let's get do that. and then he goes about building the more modern transportation systems that we need, expanding our highway program, but also the rail systems, the inner city rail, the intercity rails nd the street cars and other kinds of mass transportation systems. very, very important. and he proposes how we pay for it. he says, we ought not give the oil companies a -- the big four -- a $5 billion annual tax b
proposed i.r.s. rules, limiting the political activities of certain tax-exempt groups. political leaders said this morning a vote of flood insurance will be put off until next week. it was supposed to be brought up tomorrow under suspension of the rules. live house coverage here on c-span. the speaker: the house will be in order. the prayer will be offered by our chaplain, father conroy. pray. n conroy: let us eternal god, through whom we see what we could be and what we can become, thank you for giving us another day. in these days, our nation is faced with pressing issues, constitutional, religious, and personal rights, and matters of great political importance. we thank you that so many americans have been challenged and risen to the exercise of their responsibilities as citizens to participate in the great debates of these days. grant wisdom, knowledge, and understanding to us all as we -- as well as an extra measure of charity. send your spirit upon the members of this people's house who walk through this valley under public scrutiny. ive them peace and solomonic prudence in their d
tuesday morning. it increases tax credits for the working poor and expand early childhood education. the president also commented on russia's intervention in ukraine. this is about 15 minutes. 2>> good morning, everybody. i am here at powell elementary school and just had a chance to see some of the outstanding students here. i thought it was an appropriate setting for me to say a few words about the budget i sent to congress this morning because obviously the budget is not just about numbers. it's about our values. and it's about our future. and how well we are laying the groundwork for those young children that i was with a few moments ago to be able to succeed here in america. these kids may not be the most excited people in town on budget day, but it is designed with their generation and future generations in mind. in my state of the union address, i laid out an agenda to restore opportunity for all people, to uphold the principle that no matter who you are, no matter where you started, you can make it if you try, here in america. this opportunity agenda is built on four parts.
their settlement agreements including the method of calculating the agreements and whether it is tax deductible and so on and the disclosure would be required up front at the time this is announced. now the fed doesn't have to wait for congress to do that, you could voluntarily adopt that public disclosure now. will you do that? >> i agree with you, it is important for us to disclose more and to disclose as much as we can. and we'll look at that very carefully and try to provide for mfgs. >> so in principal we're talking about more disclosure here. >> correct. >> i think this is really important because this is about accountability. we want to hold our financial institutions accountable but it means accountability for our regulatory -- >> i agree. >> and i want to follow up onp senator brown's question about too big to fail. you said we have made significant progress but much work remains to be done and i agree. but since the financial crisis in 2008, the five largest financial institutions are 38% larger than they were back then. so my question is, what evidence would you need to see before yo
the growth of tax-free housing loans are currently cover one hundred percent of housing expenses until they cover an average number of 95% of housing expenses, with a five percent out-of-pocket contribution. why comparison, the average was late 1990's. we will also no longer reimburse for renters insurance. over three years we will reduce by $1 billion the annual nowidies provided, which total $1.4 billion. we are not shutting down commissary's. all commissaries will still get .ree rent and pay no taxes they will be able to continue to provide good deals to service members and retirees. enlistedi am an person, what does that mean for me? at the end of the day? nothing. this is probably the most difficult part of the program going forward. they are talking about trying to redress paying benefits, but a lot of the analysis shows that -- thatgoing to be done this will be nearly impossible. no one in a year like this wants to be seen cutting benefits. secretary hagel is saying that we just need to reign things in, we will not cut pay for anyone. we are just going to reduce subsidies for gr
conservative groups that were seeking tax-exempt status to heighten scrutiny. delaying these groups' applications suggests an effort to chill the constitutional right of speech and association by groups that hold conservative views. the details that have emerged are trouble alarming. the i.r.s. has admitted that it deliberately targeted conservative groups' applications for tax-exempt status for extra review if they included such words as "tea party," "patriots," "912" in their names. or if they criticized how this country is being run. or if their purpose were to address government spending, government debt, taxes, or simply to make america a better place. incredible, mr. president. these inappropriate criteria stayed in place for more than 18 months and resulted in substantial delays in processing the applications of many different groups. in some cases, the applications remained outstanding for more than two years. the i.r.s. also sought to compel some of the targeted groups to divulge their membership lists. i.r.s. officials have subsequently admitted that there was absolutely n
understanding how anyone could vote for tax breaks for billionaires, for millionaires, for large corporations and then say we don't have the resources to protect our veterans. we should not be supporting this point of order. a senator: mr. president? the presiding officer: the senator from north carolina. mr. burr: mr. president, my only wish is we could have been here on the senate floor debating reforms within the system so we could fulfill and keep the promises that we have got to our veterans that are currently in that system. i would yield back the balance of the time. the presiding officer: the question is on the motion to waive. the yeas and nays were previously ordered. the clerk will call the roll. vote: vote: the presiding officer: are there any senators in the chamber who haven't voted or wish to change their votes? on this vote the yeas are 56, the nays are 41, three-fifths of the senators duly chosen and sworn not having voted in the affirmative, the motion is not group agreed to. the point of order is sustained and under section 312 of the congressional budget act, the bill is r
proposals to reform the irs. feel --p is set to on unveil his for pushover tax reform. what are some of the things that we know already about the proposal that chairman camp will announce question mark -- announce? >> he has been able to reduce income tax for individuals to 25%. we are hearing about a big tax on financial institutions and banks that could raise $60 billion. -- it is a hearing upmor mill appear -- -- u here. you are hearing capital gains tax. surtax.ll be a there are a lot of different proposals coming out of ways and means today and coming out of k street. we have seen analysis from the joint committee on taxation. >> what are you hearing from rank-and-file members in terms of this being an election year. how are they greeting the news of a tax reform package? >> we reported this morning and are night that republicans supported in general and in theory as a republican idea. when it comes to being a few months out of the midterm election, they are not pleased that they have to take a stance on a bill that has a lot of democratic ideals and it. it.n they may take a wha
country and want nothing more than to pay taxes and contribute to make america better, one of my republican colleagues compared dreamers with drug mules. with disparaging remarks about the size of their calves. and he continues to refuse to apologize for his hateful comments. these kinds of deplorable, intolerant remarks are dividing our country but they should not divide this chamber. they should not prevent a commonsense bill from coming forward. house republicans need to reject the offensive and unproductive rhetoric of some of their members and finally show real leadership on immigration reform . that majorities of republican voters support. the only floor vote that we've even had this entire legislative session on immigration was a vote to defund the deferred action program, to defund the daca program, a vote to deport dreamers, to not allow dreamers to get right with the law and get a provegsal renewable working permit. sadly that amendment passed the house. we were able to stop it, it didn't happen, the program continues, we encourage president obama to extend the program,
ideas and prospects for tax reform. what are your prospects for the election? >> cures my sense of where we are. and the chairman is where we are. trying to build on some of the ideas science or do. and he moved in and cleaned out special interest rates to hold down the rate and restoring progress. and what i think the challenge is going to be is to look at where the house and senate turn the table and make at least some progress in terms of building towards tax reform. what happened last november, and it was widely publicized, is the house leadership essentially said that obamacare was going to be their course for 2014. that is what they were going to put the focus on. and when they do that, that really changed the timetable. so the chairman was still chairman of the senate finance committee. but of course he is retiring in 2014. i had to make some decisions about where we are. even one the chairman talked about how it would affect tax reform. and so the house and the senate have to deal with something called the tactics standards. and this is about 55 provisions, number of which affect
of that kind of growth. one reason we're not is bigger government, more taxes, more regulation, and more debt. and we're not going to get out of it until we get off that path. so now we have a veterans bill before us. nobody, i don't believe, is more committed to veterans in this body than i've been and so many of my colleagues on both sides of the aisle want to do the right thing for veterans. but it's an audacious thing that we're seeing here today. let's review some of the history. just two months ago, every senate democrat, every senate democrat voted for a bill to cut military pensions for our soldiers. our military retirees and even our disabled veterans. it was in their bill. senate democrats then blocked not once but twice my efforts, other republican efforts to restore those cuts by closing a tax credit loophole for illegal immigrants. i see my colleague and friend, senator sanders, here. i'm going to get to the point, i'll just do it now because i know he's got a busy agenda and i think i know how the script will all play out and if i just had my glasses i might could read this bett
to live within our means, to get fair taxes that don't ruin people's businesses and their lives, and we believe the things the republican party had been saying. that was our big crime, but they called us a big boy republican, and now to be referred to as a tea party patriot makes my life easier. didn't like the bad boy republican thing, but i just want you to know what brought me back because i left for 12 years, and when i left, having set term limits, i never thought i would come back to congress again, because when i left, we had actually balanced the budget for the first time in 40 # years. in 1998, we balanced the budget. 1999, we blnsed the budget, and in 2000, not only was it balanced, but had a 240 billion some surplus. the frl budget was 1.7 trillion. i fast forward, i'm out for 12 # years, and i see what happens in 2010. the glorious patriots standing up, fighting gebs the most tie rankle president every in the history of america, and i see -- my juices start fleeing, get energizedded, they are on the mark, and in 2012, i decided to come back and run again because i believe, w
training expanded tax credits for 13.5 million low-income workers without children in more than a chilean dollars in higher taxes over the next decade mostly for the wealthiest americans and corporations. the president judd is his budget and met earlier today washington d.c.. here's a look. >> we also know the most effect if and historically bipartisan ways to reduce poverty and help american families pull themselves up as the end -- on earned income tax. this budget gives millions more workers the opportunity to take advantage of the tax credit and it pays for it by closing loopholes like the ones that lets wealthy individuals classify themselves as a small business to avoid paying their fair share of taxes. this budget will also continue to put our fiscal house in order over the long-term by putting the burden on folks who can least afford it i reforming our tax code and our immigration system and building on the progress we have made to them decrease health care costs under the affordable care act. it puts our debt on a downward path as a share of our total economy which experts have s
for the rest of the year. allowing americans without pace -- facing a fine next tax season it would be $95 or 1 percent of taxable income which does none seem like a lot but if your income is higher that could hit you. so what republicans are arguing is the obama administration is breaks to businesses that otherwise would have been required to offer health insurance to their employees. there are delays associated with that mandate and republicans say it is not fair other individuals would be fined for not carrying health insurance if employers are not fine for not providing it. >> host: you wrote to the white house itself will announce further delays of the law. >> guest: we expect the white house to allow insurance companies to continue offering plans that does not meet the minimum coverage requirements. which we expect could be as soon as this week it will allow insurance companies to continue selling policies under obamacare rules for health care coverage so a policy that doesn't have maternity care or mental-health services could continue to be sold. what we understand from that stage that
protecting the tax loopholes and benefits for the wealthiest and the well-connected in the society and that includes as we talked about earlier this week the refusal to entertain the closing of some of those loopholes as a part of a compromise approach dealing with our media and the long-term deficit challenge is. so yes the president will talk about why it's so important for democrats to advance an agenda that is focused on expanding opportunities for all. and as he has and i have as well it is certainly worth noting in the contrast, and he will again tonight with an agenda that is focused on protecting the loopholes and prerogatives of the wealthiest and the well-connected and again from expanding or protecting the opportunity for a few. >> it sounds like a campaign. when you say opportunit see oppa few yesterday you were saying the chairman proposal has had some good potential to it. >> and they rallied around it. >> the president met earlier this weekend talked about immigration reform. >> obviously the president, like all republican leaders including those running for office t
regulations. that's not income tax. that's not health care. that's federal regulations. the small business administration, not some republican, said it costs $11,000 per american worker to comply with federal regulations. $11,000. we're not saying that all of that's bad. what we're saying of the hundreds of thousands of federal regulations -- and by $520 , $1.8 trillion, million of that burden was passed in the last four years and there's $87 billion worth of regulations waiting just this year to be passed. now, the federal reserve and treasury, they testified at the financial services committee every year and they say if you can increase the gross domestic product by 2%, we can create jobs. 2%. if we can grow it from 2% to 4%. let me submit that in that 14% of the gross national product that's absorbed by federal regulations, we can find one out of seven of those regulations that we can change. i'll close by telling you a good one. the chairman started by talking about the cement industry. the e.p.a. proposed a regulation that would have put 200,000 american cement workers out of work. w
of the treasury from assigning tax statuses to organizations based on their political beliefs and activities. h.r. 3865, an act to prohibit the internal revenue service from modifying the standard for determining whether an organization is operated exclusively for the promotion of social welfare for purposes of section 501-c-4 of the internal revenue code of 1986. mr. reid: i ask for a second reading on each of these four measures but object to my own request. the presiding officer: objection having been heard, the bills will have their second reading on the next legislative day. mr. reid: i ask unanimous consent when the senate completes its business today it adjourn until monday, march 13, 2014, following the prayer prairp, the morning business be deemed expired, and the time for the two leaders reserved for use later in the day. following any leader remarks, the senate be in a period of morning business until 5:00 bm with senators permitted to speak therein for ten minutes each, following morning business senate proceed to executive session to consider the nomination of debo p. adegbile adeg
upstream issues the complexity of the tax code. .. >> one of the unintended consequens of the irs having to shift people from one function to answer telephone calls, one of the areas in which they do this is especially trouble aring because it's -- troubling because it's, they take people who were working identity theft cases who are working to help identity theft victims and literally having these individuals stop in midstream and move to telephone answering how do you complete a return and what have you, and which causes immense delays in helping victims of identity theft which as members of this committee know is a massively growing problem and especially if you're the subject, if you're the victim involved is very frustrating. and so it's just a point, again, of -- it's a zero sum game. they need resources to do it all. this aca -- most americans have no idea of the massive role that the irs is going to play in the implementation of the affordable care act. and the irs, once again, will have to make some tough choices as to what to focus upon. >> thank you. i don't have any further q
likelihood of any significant action. tax reform -- you will see a lot about this and next 48 hours as dave camp, the ways and means committee, unveils a very ambitious bill. lots of interesting features including a little surtax on the wealthy that might go against republican orthodoxy. he talks about maybe even nd income to abo surtax which is a very controversial subject. he would do away with a lot of safer tax breaks, as you know. this is something that has made most republicans very uneasy. they do not want to have attention drawn to anything that controversial. i would say the chances of tax reform this year are at best 10%. i'm being generous to even say that. next year with all ryan as head of the ways and means committee, things could change. then there is immigration. being an optimist who would like to see a bill, i think there is a chance that things could get a little more serious after the primaries. midsummer, when so many republicans are going to look over their shoulder to a right-wing challenger, i think immigration is totally off the table as an issue that could move. mi
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